State Street Expands Relationship with Babson Capital

State Street Corporation (NYSE: STT), one of the world’s leading providers of financial services to institutional investors, announced today that it is expanding its relationship with Babson Capital Management LLC to provide investment operations and technology services. Today’s announcement builds on State Street’s existing relationship with Babson Capital whereby State Street has provided custody, trustee, private equity and hedge fund services since 2001.

“As we expand domestically and globally, enhancing our relationship with State Street is an ideal opportunity for our clients and our firm,” said Thomas M. Finke, chairman and chief executive officer of Babson Capital. “Leveraging State Street’s expertise in global operations services will allow us to improve access to data, decrease reliance on multiple internal systems, take advantage of new developments in technology, and achieve greater overall operating efficiency. This will allow us to focus more on providing our clients with exceptional service and performance results and on developing our future growth strategies.”

“We are pleased that Babson Capital has chosen State Street for the needs of its expanding global business,” said Jeff Conway, executive vice president and head of investment operations servicing and new business integration at State Street. “As the financial markets become more complex, the technology systems required to maintain and develop new investment strategies has increased substantially. Our experience in providing scalable solutions for asset managers’ investment operations helps them create additional efficiencies to achieve their growth objectives.”

This expanded partnership with Babson Capital builds on State Street’s industry leadership in the investment operations outsourcing market. State Street provides services for more than $6 trillion in middle office assets to clients globally. These services help investment managers convert substantial fixed operating costs to a variable cost model, eliminating manual processes and ensuring data integrity.

Babson Capital Management LLC and its subsidiaries serve institutional investors around the globe and have $128.9 billion in assets under management as of June 30, 2010. Through proprietary research and analysis and a focus on investment fundamentals, we develop products and strategies that leverage our broad array of expertise in fixed income, equities, alternatives, structured products, debt financing for corporations and commercial real estate. Based in Boston and Springfield, Mass., and Charlotte, N.C., with offices in New York City and Los Angeles, the firm’s subsidiaries include Babson Capital Europe Limited in London, Babson Capital Australia Pty Ltd in Sydney, and Cornerstone Real Estate Advisers LLC in Hartford, Conn. Babson Capital is a member of the MassMutual Financial Group and is on the web at www.BabsonCapital.com.

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $19 trillion in assets under custody and administration and $1.8 trillion in assets under management at June 30, 2010, State Street operates in 25 countries and more than 100 geographic markets worldwide. For more information, visit State Street’s web site at www.statestreet.com.

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